Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,275 shares of the biotechnology company’s stock after selling 544 shares during the quarter. Corebridge Financial Inc.’s holdings in Ligand Pharmaceuticals were worth $994,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in shares of Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock worth $43,000 after buying an additional 221 shares during the last quarter. US Bancorp DE raised its stake in Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 98 shares during the period. KBC Group NV lifted its holdings in Ligand Pharmaceuticals by 49.7% in the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 300 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ligand Pharmaceuticals in the fourth quarter valued at approximately $172,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Ligand Pharmaceuticals during the third quarter valued at approximately $180,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LGND. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays boosted their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada raised their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insiders Place Their Bets

In other news, CFO Octavio Espinoza sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the sale, the chief financial officer now owns 18,879 shares of the company’s stock, valued at approximately $2,171,651.37. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Trading Down 3.4 %

Shares of NASDAQ:LGND opened at $99.57 on Friday. The company has a 50 day moving average of $113.11 and a 200-day moving average of $112.03. The firm has a market cap of $1.92 billion, a P/E ratio of 39.67 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90.

Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.